Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 6.6% during the third quarter, Holdings Channel.com reports. The fund owned 8,316 shares of the company’s stock after purchasing an additional 516 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Spectrum Brands were worth $791,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its stake in Spectrum Brands by 50.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock valued at $20,644,000 after acquiring an additional 77,835 shares during the period. TCW Group Inc. boosted its stake in Spectrum Brands by 25.2% during the 2nd quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock worth $10,901,000 after purchasing an additional 25,551 shares during the last quarter. Gabelli Funds LLC boosted its stake in Spectrum Brands by 217.7% during the 1st quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock worth $14,740,000 after purchasing an additional 113,470 shares during the last quarter. Caxton Associates LP acquired a new stake in Spectrum Brands during the 1st quarter worth $792,000. Finally, Acadian Asset Management LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth $3,119,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SPB shares. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group lifted their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.88.

Spectrum Brands Stock Down 6.0 %

Shares of SPB opened at $88.22 on Monday. The firm has a market cap of $2.47 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.25 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. The company’s 50-day moving average price is $91.49 and its 200 day moving average price is $89.48. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.13%. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s payout ratio is 41.18%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.